It is reported that Mr Ram Vilas Paswan union minister for Chemicals & Fertilizers and Steel laid the foundation stone of Steel Authority of India Limited’s sixth steel processing unit at Lassipora in Pulwama district of Jammu & Kashmir. Present on the occasion were J&K Governor Mr NN Vohra, SAIL Chairman Mr SK Roongta and MD of Durgapur Steel Plant Mr V Shyamsundar.

Mr Paswan thanked the J&K government for providing land for the project on priority and urged SAIL to explore the possibility of increasing investment in the state to enhance development.

Mr Roongta said that the SPU would increase SAIL's presence vastly in J&K. He added that SAIL's existing distribution centre in Leh was the highest altitude steel outlet in the world. He said "Wherever SAIL goes, it makes a meaningful difference in people's lives.”

SAIL is investing INR 100 crore in setting up this SPU. Being built with an initial capacity of 100,000 tonnes per annum, the Pulwama SPU will produce TMT bars in 8mm to 25 mm diameter and galvanized corrugated sheets from input materials sourced from SAIL's integrated steel plants. Expected to be completed in 18 months, the unit will have a TMT bar mill with 40,000 tonnes per annum capacity and cut to length and corrugation line of 60,000 tonnes per annum capacity for GP coils and sheets.

In line with its strategy to meet the market demand for tailor made steel products and to help increase per capita steel consumption in rural areas, SAIL is in the process of setting up Steel Processing Units in locations across the country where it does not have any production facility. The detail of 5 units, where work has commissioned is as under

1. Betiah in Bihar at an estimated cost of INR 236 crore - 265,000 tonnes of TMT bars and pipes

2. Mahnar in Bihar, being set up in two phases at a cost of around INR 265 crore, will have the capacity to produce 150,000 tonnes of black and galvanized tubes and 100,000 tonnes of TMT bars, and will also have coil cutting and corrugation facilities.

3. Gwalior in Madhya Pradesh at an investment of INR 83 crore for TMT bars

4. Ujjain in Madhya Pradesh at an investment of INR 100 crore for TMT bars

5. Hoshangabad in Madhya Pradesh at an investment of INR 154 crore for TMT bars and sections

Indian domestic steel prices for long products remained weak on September 2nd 2008.

ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index

Long products

Flat products

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Steel Authority of India Limited’ has received shareholders' approval to merge with state run Bharat Refractories, with effect from April 2007.

SAIL informed the Bombay Stock Exchange on Monday that in the Annual General Meeting held on September 10th 2008 the resolution for amalgamating the two companies was approved by the shareholders, subject to the sanction of the same by Ministry of Corporate Affairs, Government of India".

It added that the Board of Directors of the company are authorized to make any alternations and changes as may be necessary or expedient.

BRL produces full range of Alumino Silicate, Basic and Silica Refractories of superior quality and has an over all installed capacity of 135,500 tonnes.

In April 2008, the merger of both the PSUs under the steel ministry was approved by the Union Cabinet.

According to media reports, JSW Bengal Steel is planning to lay the foundation stone of its INR 35,000 crores integrated steel plant at Salboni in West Midnapur on November 2nd 2008.

Mr Biswadip Gupta joint CEO & MD of JSW Bengal Steel said that the construction would begin without any delay to meet the deadlines.

Mr Gupta reportedly said that the company has completed the financial closure of the first part of first phase steel plant of INR 4,000 crores with State Bank of India, adding that the project is being implemented at a debt equity ratio of 2:1.

Mr Gupta further stated that the company has obtained the requisite clearances, including sourcing of water from Rupnarayan river for the project.

The first phase of 3 million tonne steel plant with a captive power plant would be operational from 2011-12. The plant is expandable to 10 million tonnes in phases.

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The Australian Business reported that TATA Steel has gone on market to buy a 7.3% stake in Riversdale Mining. Shares in Riversdale which has a coking coal project in Mozambique jumped by 5.05% adding 43 cents to reach USD 8.94 in afternoon trading.

A filing with the Australian Securities Exchange revealed TATA, through its indirect subsidiary TS Global Minerals Holdings had purchased a 7.3% stake in Riversdale on market.

Separately the Talbot Group, Mr Ken Talbot CEO of investment vehicle of former Macarthur Coal said that it had upped its stake in Riversdale to 13.4% from 11.3%.

TATA already has an association with Riversdale last year signing a USD 100 million agreement for a 35% stake in two coal tenements in return for the right to buy 40% of coal produced.

Asia Pulse reported that TATA BlueScope Steel will set up its fourth manufacturing unit at Jamshedpur at an investment of INR 900 crore.

The Jamshedpur unit would be operational by the last quarter of 2009.

As per report, the other manufacturing units are located at Pune, Rewa and Chennai.

ET reported that Jindal Steel and Power Limited plans to float a wholly owned subsidiary, Jindal Petroleum which would look after the domestic and overseas oil and natural gas operations of the company. It is learnt that the firm has acquired exploration rights to one oil block in Rajasthan, 4 blocks in Georgia and 3 blocks in Peru.

Recently, the company along with Namibia based Enigma Oil and Gas Exploration received exploration rights to three onshore oil blocks in the Maranon and Huallaga basins in northern Peru.

EOGE is a wholly owned subsidiary of Chariot Oil & Gas an independent oil and gas exploration group. JSPL owns 50% in Block 159 in the Maranon basin and 80% interest in each of the other two, Block 147 in Maranon and Block 153 in the Huallaga basin. The remaining stake in the blocks is held by EOGE.

Mr Sushil Maroo director of JSPL’s said that “To attain energy security, the government has started New Exploration Licensing Policy to attract private sector companies to invest in oil and gas exploration. We are using this opportunity and intend to form a separate arm that would control all oil and gas operations of the parent company.”

Mr Maroo said that “We now have access to oil blocks in Peru, the exploration work on which is expected to commence in the next months. Following exploration, a detailed study will be conducted on the region and after a year drilling work will begin.”

According to sources, the company has also been allotted exploration rights to an oil block near Jaisalmer, Rajasthan. The block is spread across an area of 1,400 square kilometer.

It is reported that Power Grid Corporation of India's Board has approved an investment of INR 4,824.12 crore for the transmission system associated with Mundra Ultra Mega Power Project.

The project will be commissioned in around 48th months from the date of investment approval.

BS reported that India largest power generator has warned the Russian power equipment supplier, TechnoPromExport of legal action if the later does not resume the work at NTPC’s power project in Bihar.

According to a press statement issued by the ministry of power, “For the past few months, NTPC has been in dialogue with TPE to sort out the disputes over price and time escalations and get work resumed at the site.” Further details were not disclosed.

With the disputes remaining unresolved, NTPC has given time till coming Wednesday, after which the state owned power utility plans to start adjudication proceedings as provided for in the contract. NTPC has already spent about INR 3,000 crore in the project the total cost of which is INR 8,700 crore.

The dispute relates to NTPC’s Barh stage I project, where the Russian company is supplying boilers for three units of 660 MW each. Due to dispute between NTPC and TPE work in this INR 8,700 crore project has come to a standstill and is now running 2 years behind schedule.

The warning by the Navratna PSU to TPE was announced by Mr Jairam Ramesh minister of state for power while launching the stage-II of the Barh power project in Bihar. The total capacity of the stage-II which is another INR 7,340 crore project is 1,200 MW and employs two units of 660 MW each to be supplied by BHEL. The first 660 MW unit is expected to be commissioned in March 2012 and the second unit in January 2013.

TOI reported that Anil Ambani-led Reliance Power has submitted a INR 450 crore package to the state for acquiring 2,460 acres at Shahpur taluka in Raigad for a 4,000 MW plant.

Officials said that almost half the package sum is meant for the relief and rehabilitation of project affected persons. The government is, however yet to approve the relief package because of certain deficiencies in promising unconditional jobs to one person per affected family.

R Power has planned a dual fuel plant at Shahpur comprising 2,800 MW of gas fired units and 1,200 MW of coal based units. The plant would be in close proximity to the TATA Power unit in the Shahpur coastal area located around 50 kilometer off the Alibaug road.

BL reported that Mr Jairam Ramesh Union Minister of State for Commerce and Power along with Mr Pradyut Bordoloi Assam Power Minister inspecting the piling work at NTPC’s Salakathi Thermal Power Project site in Bongaigaon district of Lower Assam.

As far as the monetary compensation goes, R Power has promised INR 10 million tonnes per acre for fertile land and half the price for unproductive plots. Besides, it is also offering close to INR 2 million tonnes per acre instead of 12.5% of developed land, a standard practice in all land acquisition for SEZs.

An official said that R Power officials said they would provide 300 day wages to the affected landowners. Official said that "Once a person is notified as a landless laborer, he will be entitled to a minimum of 300 day wages.''

As per report, the company has promised to provide jobs to all skilled and semi skilled locals in the 8 affected villages. Official said that "Engineers, if any would be paid INR 10,000 per month. Skilled workers would get INR 5,500 per month and unskilled labor would be given INR 5,000 per month.'' Besides, R Power is also promising to provide free training to eligible PAPs or their wards at the Industrial Training Institute. The state relief and rehabilitation department is however not satisfied with the job guarantee R Power has laid out for PAPs.

The project is the country’s first power project where the de sulphurisation technology will be used to produce 750 MW. The total project cost will be INR 4,375.35 crore.

ET reported that firms such as Cornell Capital and Actis are likely to join hands with leading domestic power sector financing company Power Finance Corporation to set up an equity consortia for funding power projects in the country.

The state owned institution would identify power projects needing equity support and provide lucrative investment opportunity to consortia partners. The new initiative would be run by the newly set up arm of PFC, Power Equity Capital Advisors. Other institutions and PE firms that may become part of the consortia include Sansar Capital Asia, Nexent Ventures, Capital Management Advisors and Highfield Capital Management.

The company said that this equity consortium will have both international and domestic financial institutions, PFC will develop the standard appraisal criteria and other members will infuse capital in the domestic power projects. This is a major step towards securing a safe and permanent line of equity for the fund-starved power projects in the country.

To get the equity consortia running, PFC is also in talks with a list of heavyweights in the domestic financial sector which include banks and insurance majors such as State Bank of India, Axis Bank, Bank Of India, LIC, HDFC, ICICI, Bajaj Allianz, TATA AIG and Oriental Insurance.

It is reported that Sri Lankan manufacturer of steel Confab Steel will sponsor a seminar conducted by the Society of Structural Engineers of Sri Lanka to be held on September 23 at the Hilton Colombo on ‘A Vision for High Rise Buildings’ which is in keeping with Confab Steel’s position as the largest steel manufacturer in Sri Lanka.

Mr Chanchal Bose GM of Confab Steel said that they were proud to be associated with this event, where the leading professionals in the industry would be sharing their knowledge and ideas to take the local construction industry to new heights. Architecture, Quantity Surveying, Project Management, Construction Technology, Integration of Services, Structural Analysis and Design are just some of the topics that will be discussed, while the presenters will include renowned industry professionals such as Professor Lakshman Alwis, Professor Thisan Jayasinghe and Professor C Wedikkara, amongst others.

ET reported that Balaji Infra Projects Promoters of Dighi Port in Maharashtra has joined hands with POSCO and Daewoo Logistics Corporation to form a JV company to set up a steel distribution centre within the Dighi Port.

While POSCO and IPPC has 51% stake in the JV, Daewoo subsidiary holds 29% and Balaji Infra 20%. To be set up in 9 acres within the port, the centre will be the first steel distribution centre of its kind within a port.

BL cited Mr Avneet Singh VP sales and marketing of Winmark Services as saying that International Infrastructure Seminar on Urban Development and Urban Infrastructure to be held in Mumbai would focus on the progress of the construction industry in the country.

Mr Singh said that the 3 day seminar beginning on October 16th would provide an opportunity to catch up with the latest developments in building materials, machinery and construction technologies.

He added that “Slum rehabilitation will be a key area of focus for the seminar. A case study on airports in India will be presented during the main event. The study will deal with the redevelopment of airports in the country as well as address other infrastructure requirements around the same.”

Mr Singh said that it would also be a platform to meet leading Indian and international construction sector professionals, manufacturers and suppliers of construction machineries as well as senior policy planners from the Government and the industry, who would provide in depth information about new projects and JV opportunities.

Reliance Industries formally announced the commencement of production from its famous Krishna Godavari D6 upstream assets.

The first of its kind production from a deepwater field in India commenced on September 17th and comes 40 years after Bombay High was discovered by ONGC.

The release added that RIL will produce 5,000 barrels of crude a day which will later rise to the peak level of 0.55 million barrels of oil equivalent per day and at this level, it could save the country nearly USD 20 billion in foreign exchange every year and this will increase India current oil and gas production by 40%.

The much anticipated gas production from KG basin is expected to commence from the Q1 of next year.

Reliance Industries said that it marks production from just one field that is part of a larger discovery domain and they can now confidently look forward to production from a series of other fields.

BL reported that 5 member team of delegates from Japanese External Trade Organization is in this ancient port town to study the business potential with special focus on investment in port related projects.

The team led by Mr Masahiro Akiyama chairman of Ocean Policy Research Foundation, Tokyo would look into port development, cargo movement, management and port administration.

Mr Akiyama said that the visit would be useful with regard to Japanese investment in India in the areas like ship building, automobile industries, steel plants and auto components. The team would also explore the scope for promotion of trade from Tuticorin.

The port users explained to the visiting delegates about available infrastructure facilities such as road, rail and air connectivity, labor, education, health, entertainment and geographical advantage. Mr GJ Rao chairman of Port Trust, Mr K Subbaiah deputy chairman, Mr Sankar Rao chief engineer were among those who participated in the discussions.

ET reported that India government cleared 27 proposals for special economic zones including those by Larsen and Toubro, JSW Bengal Steel, Ansal Properties and Bharat Forge.

The Board of Approvals chaired by Mr GK Pillai Commerce Secretary granted formal approval to 17 SEZ proposals and gave in principle nod to 10 tax free zones.

Among the SEZs that got formal approval include an IT SEZ in Haryana by Orient Craft Infrastructure, multi product SEZs by JSW Bengal Steel in West Bengal and by Bharat Forge in Maharashtra.

The airport based multi product SEZ in Himachal Pradesh by Skil Infrastructure Limited and a heavy engineering tax free zone in Tamil Nadu by Larsen and Toubro Shipbuilding Limited got in principal clearance.

It is reported that in a first initiative of its kind through a public private partnership the government has launched a national centre of excellence for skill development in Chhindwara district of Madhya Pradesh set up by the Confederation of Indian Industry.

Launching the centre Mr Kamal Nath commerce and industry minister said that “When we talk about six to seven per cent growth rate in major cities, I do not see this growth in tier II and III cities.” He added that this initiative was a small but unique step to try and bridge the skill gap.

Mr Kamal Nath also stressed on the importance of this centre as in the race for getting employment, youth in the districts always lose out in the last mile. The Chhindwara centre would attempt to ensure that employability increased.

Outlining the activities of the skill development centre, Mr Rajendra Prasad chairman of CII Madhya Pradesh State Council said that initially training would be imparted in the trades of masonry, bar-bending, welding, excavator operators and fitters for a period of one to three months.

Each batch would have 15 to 30 students per trade and would be run by CII member companies.

Lanco Infratech announced that the company had received Letter of Acceptance worth INR 3.08 billion from Andhra Pradesh Health & Medical Housing & Infrastructure Development Corporation.

The order is for the construction of buildings for Rajiv Gandhi University of Knowledge Technologies IIIT at Basara in Adilabad district of Andhra Pradesh.

Lanco Infratech is engaged in the business of construction and infrastructure development. The main revenue for the company comes from its construction, infrastructure development and property development. Established in 1993, the company has created two divisions to oversee and execute infrastructure and EPC works.

Myiris reported that GS Auto International has received export orders worth INR 10.60 million from various customers, such as Arvin Meritor, Hermann Peter Gmbh Germany, Sieg Fried Templing Gmbh Germany, Rotark Gears BV, Holland and Mast Trading Company, Dubai.

With these orders, the company has total export orders in hand, worth INR 38.50 millions till date.

G S Auto International, incorporated in 1973, is engaged in the manufacture of suspension components. It is part of the GS group of companies, which also includes Ryait Exports, GS Foods, GS. Sales Corporation, GS Automotive and Music Division.

The company manufactures machined, forged and cast suspension components for light, medium and heavy commercial vehicles and passenger cars.

ET reported that the Singur standoff continues and the TATA top bosses go shopping for a new mother plant site, Nano is all set to roll out next month in 3 petrol variants, standard, deluxe and luxury.

According to industry sources, the diesel Nano which will be launched next year will also have three variants.

Dealer sources said that the top end luxury variant will have a range of features like HVAC, power window, central locking, tinted glasses, extended reflector, front and rear fog lamps and instrument cluster with trip meter. It will also have body colour bumper and door handles, door lock on the co driver side, slider with recliner, 3 spoke steering wheel and double stalk combiswitch. The deluxe version will have HVAC and tinted windows and the standard will have none of these.

A TATA Motors spokesman said that “TATA Motors has said that the plan is to launch the car in the October to December quarter of the year. The company is yet to declare the exact launch date. When unveiling the car at the Delhi Auto Expo on January 10th, TATA Motors had said that the car will be available, when launched in standard and higher end versions. All versions will offer a wide range of body colours and other accessories.”

Project today reported that Hyderabad based Maytas Infra bagged two orders totaling to INR 480.67 crore from Maharashtra State Electricity Distribution Company for electrification of Beed and Nanded districts of Lathur Zones and Ahmednagar district of Nashik Zone under infrastructure development plan.

As per report, the first order for INR 214.77 crore is from MSEDCL from Mahavitran, Infra Plan in Beed and Nanded districts of Lathur Zones, while the second order wort INR 265.9 crore is from MSEDCL from Mahavitran, Infra Plan in Ahmednagar district of Nashik Zone.

It is reported that HPCL and Mittal Energy is likely to commission its INR 18,900 crore Guru Gobind Singh Refinery at Bhatinda in Punjab by March 2011.

As per report, HPCL and Mittal Energy each hold 49% in the Bhatinda project and the rest is owned by financial institutions. The project is being financed in a 1.5:1 debt equity ratio with an equity investment of INR 3,577.50 crore each by Mittal and HPCL.

After completion, the proposed refinery will give access to a huge market in the north. While it will be able to sell around 70% of the products in Punjab, the rest will be distributed in Delhi and nearby cities.

BL reported that Titan Energy Systems has firmed up plans to target corporate sector and roof top installations in the domestic market. For corporate, it plans to offer solar power to supplement diesel to power systems and equipment in offices.

Mr Rao SYS Chodagam MD of Titan Energy said that Similarly, roof top installations with a wide range of applications from home lighting to taking care of the power needs of independent bungalows, villas, resorts and small offices are priority.

Mr Rao said that the Hyderabad based company has created a separate division to pursue these two business opportunities in the business to business space and not the consumer end.

He said that the company has emerged among the strong players in the solar energy sector with an installed capacity of 50 MW at present and an order book of over INR 1,500 crore from global manufacturers.

Mr Rao said by end of 2008 that the installed capacity would double to 100 MW and by the end of 2009 the target was to reach 250 MW. The major addition would come through the big project in the upcoming Fab City near the Hyderabad International Airport, on the outskirts of Hyderabad.

The company has been allocated 25 acres of land. It is raising the required USD 15 crore investments through term loans and internal accruals. He said that talks are also on with private equity players. The project, where ‘bhumi puja’ has been recently completed would provide employment to 400 to 450 people.

Equity Bulls reported that Sical Logistics Limited has won the award for the Best Container Logistics Provider in the country at the Express, Logistics and Supply Chain Awards held in Mumbai on September 19th 2008.

The award was received by Mr Sudhir S Rangnekor MD and Group CEO of Sical Logistics. On behalf of Sical Distriporks Limited from Mr Nigel Goode CEO of Logistics Writer Corporation & chairman Express, Logistics and Supply Chain Conclave.

The winners of the Awards are selected by a panel of industry leaders, including past winners and the eminent members of the advisory council of ELSC.

Mr Ashwin C Muthich chairman of Sical Logistics said that "We are pleased to receive. The award for “The Best Container Logistics Provider” in the country the recognition underscores our ability to deliver the highest standards of service with a customer focused approach, through our wide network across the country."

He added that “Container logistics continues to be a key growth driver for The company and we have planned investments of INR 120 crore over the next 2 years, across key locations like JNPT, Tuticorin, Pipavav, NCR region and Bangalore amongst others. We expect our new CFSs and ICDs to be operational by FY 2012. Enabling us to consolidate our position as a leading con tamer logistics player in India.”

It is reported that India government has further liberalized the external commercial borrowings policy to allow infrastructure companies to avail themselves of borrowings of up by USD 500 million a year as against the existing limit of USD 100 million for rupee expenditure under the approval route.

As per report, the enhanced limit of up by USD 500 million comes with a condition that borrowings in excess of USD 100 million should have a minimum average maturity of seven years. The latest changes will particularly benefit telecom operators who will participate in the 3G auctions slated for October and November 2008. Also, the government has hiked the interest spread ceiling on ECBs with minimum average maturity of over 7 years, by 100 basis points to 450 basis points over 6 months London inter bank offered rate.
All other aspects of ECB policy such as USD 500 million limit for a company a year under the automatic route, eligible borrower, recognized lender, end use of foreign currency expenditure for import of capital goods and overseas investments, average maturity period, prepayment, refinancing of existing ECB and reporting arrangements also remain unchanged.

BL reported that Mir Projects and Consultants, the consultancy and project management wing of Mir Group has been awarded the consultancy for developing breakwater facilities, west of Mormugao port, in consortium with the Group’s US partner, TranSystems of Virginia.

The consultancy was awarded through a global bid. Mir Projects and Consultants will be responsible for preparing a detailed project report to develop the waterfront on the west of the existing breakwater, fully exploring the possibilities of creating port terminal facilities for berths, launch service, marina, cruise vessels, sailing, yachting, floating hotels, off shore base, rig repairs, ro ro service etc, at the Mormugao port.

Mir Projects and Consultants’ core areas of operations include a broad spectrum of expert consultancy and project management services in seaports and airports, heliports and vertiport, project management and consultancy, urban infrastructure, environment management, energy audit and carbon credit.

Recently, the company had conceived the feasibility study and business plan for India’s first international cruise terminal cum public plaza at Willingdon Island, Kochi. The company presented a successful public private partnership business model for the INR 390 crore cruise terminal project.

It is reported that Karnataka government is in negotiations with TATA Motors on relocating the Nano project to Dharwad.

TATA officials have visited 2 sites near Dharwad which is likely to be offered for the project. While one site is about 800 acre, the other is 1,000 acre and the state government has another 500 acre in its possession which can be made available for the Nano project immediately.

Meanwhile, the West Bengal government has extended the deadline for receiving applications from farmers in Singur who wish to accept their compensation cheques in lieu of land acquired from them for the TATA small car project. The earlier deadline expired on September 22nd 2008.

BL reported that the falling steel prices in the global market at a time when the rupee is depreciating may not spell good news for the domestic automobile companies and consumers.

Car makers who import 50% to 60% of their steel requirements from overseas markets such as Japan, Thailand and South Korea cite that the devaluation of the rupee would offset any gains that they may accrue due to the lower steel prices in the global market.

Mr Shekhar Viswanathan senior vice president of Toyota Kirloskar Motors said that “Even though the prices have fallen in the global market, we don’t expect to get any advantage as our imports would become more expensive with the rupee devaluating.”

Auto companies said that while domestic steel can meet the requirements for inner parts, for body panels, the outer panel that constitutes the shape of the body is generally met from imported steel.

In case of Maruti Suzuki, 50% of its steel is sourced from the domestic market and the demand for the remaining 50 per cent is met through imports. Honda Siel Cars and Hyundai also source in similar proportion from overseas markets. Globally, steel prices have plunged 20% to 25% in the last few weeks.

Japanese car maker Honda said that with contracts being long term, it does not see any immediate benefit that could be passed on to the consumer.

A Honda Siel Cars spokesperson said that “With our imports coming from Japan and Thailand and the rupee depreciating since April, we continue to be affected. So when the steel prices had increased, we had absorbed the cost to an extent. Now we would not be able to bring the prices down.”

Shortage of domestic auto grade steel, combined with the need to make fuel efficient car has led more Indian and global auto makers import a majority of their steel requirements.

Ranchi Express reported that the Singur project still hanging in the balance Mr Sibu Soren CM of Jharkhand made a fresh plea to the TATA group. He requested the company to consider the setting up of the manufacturing unit for the much awaited Nano cars in Jharkhand. This is the second time that Mr Soren has come up with this plea, since the blockade began in Singur.

Mr Soren plea comes in the wake of reports suggesting that the project would be moved to Karnataka. Mr BS Yeddyurappa CM of Karnataka has already stepped forward with an offer of infrastructure and incentives for TATA Motors in the state.

Mr Yeddyurappa said that "whatever facilities they want if they decided to come to Karnataka." Though he was not categorical on the quantum of land to be given to TATA Motors, it is assumed that it would not be less than 1,000 acres.

It is reported the unidentified armed men assaulted 2 security guards in the paint shop of the TATA Motors small car plant at Singur.

The police said that 5 armed men sneaked into the project area at 9:45 PM last night and beat up security guards with iron rods.

Alarmed by screams of the injured other security men rushed to the site but could not nab the attackers. The injured were first taken to Singur Gramin Hospital and then shifted to Walsh Hospital at Srirampore.

They said that no FIR has been filed by the company officials yet. Senior police officials went to the spot.

International Iron and Steel Institute have released the production figures for direct reduced iron for the month of August 2008. The global production of DRI in August 2008 was 5.215 million tonne up by 13%YoY.

India retained the top slot with 1.750 million tonne production.